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Thursday, June 20, 2013

Democrats, The Party Of The Rich

For decades, Democrats have convinced a gullible public that the Republicant party is the party of the rich. This has been accomplished under the noses of an obtuse public who are blithely unaware of facts to the contrary, e.g., millionaire Democrats in the United States Congress far out number millionaire Republicants. A corollary myth is that Republicants are the party of big business, once again the facts on ground do not support this supposition.
One only has to look honestly at the Democrat party and the Obama administration during the last four and a half years to understand the truth behind my premise that the Democrat party is home to the ultra-rich and big business. The disconnect between what the President and members of his party say about promoting a strong middle-class, and the reality of the deleterious effects on the middle-class of their policies, is glaring. The President has demonized Wall Street and big banks, and yet his Federal Reserve Chairman, Ben Bernanke, has used trillions in printed money to double the market's value over the last four years, while the general economy has only had negligible gains. The President has made disparaging remarks about the big banks, and then with a wink and a nod supported and signed The Financial Reform Act (Dodd/Frank). The new law guarantees that banks like Bank of America, JP Morgan Chase, Citigroup and others will have their smaller competitors crushed by the weight of the overwhelming bureaucracy created by Dodd/Frank. And it worked, hundreds of small community banks have had to close their doors simply because they could not afford the millions of dollars in compliance costs of the new law. Not to mention that the new law legislates guaranteed bailouts for the larger banks, should they need them at any time in the future.
ObamaCare is another huge benefit to big businesses and a detriment to small ones, not to mention to the average American family. The Congressional Budget Office has recently said that under a fully implemented ObamaCare, the average middle-class family of four will pay twenty thousand dollars a year for health care insurance, three and half times the current cost. Small businesses that can not afford the additional costs heaped on them by the federal government, will close their doors and layoff their workers. The days of starting a small business on a shoestring and building it into a thriving company, will essentially end as ObamaCare will add enormous expense to start up costs. Large companies will be able to absorb the onerous cost of "health care reform", but their smaller competitors will fall off the financial cliff created by ObamaCare.
Some on the right have suggested that President Obama has a similar anti-business stance as did President Franklin Roosevelt. But FDR crushed business with the force of government and tried to destroy the engine of wealth in this country. President Obama has crushed business with his rhetoric, while at the same time giving them a hand-out through favorable legislation. President Obama has not destroyed business wealth as much as he has consolidated it in the hands of fewer and larger entities that he can control more easily to walk hand-in-hand with big government. We have witnessed crony capitalism in the last four and half years like we have never seen before in this country.
The growing of government also supports another kind of wealth, union wealth. The growing bureaucratic class, who on average receive twice the salary and benefits than their counterparts in the private sector, have added tremendously to union coffers, subsequently benefiting Democrat politicians through forced campaign contributions. The Democrat party, especially in recent years, have been anything but champions of the middle-class and small business. On issue after issue and policy after policy, Democrats have chose to serve the interest of big business and big government which leaves only crumbs and scraps for the middle-class.